Operational effectiveness and strategy are both essential to superior performance.
The essence of strategy is that you must set limits on what you're trying to accomplish.
Strategy is choice. Strategy means saying no to certain kinds of things.
Risk is a function of how poorly a strategy will perform if the 'wrong' scenario occurs.
Finally, strategy must have continuity. It can't be constantly reinvented.
A target should go with every goal. A target is the value that defines success.